Local firms’ foreign assets rise to $6.2 billion

[…] June 10. Consequently, the net foreign exchange deficit of non-financial firms stood at $192 billion as of March, indicating a decrease of $5.48 billion the previous month. The Central Bank noted that on the asset side, deposits held by domestic banks, direct investments abroad and export receivables increased by $5.2 billion, $151 million and $841 million respectively, indicating an increase of $6.2 billion in assets. On the liability side, domestic loans […] domestic loans decreased by $696 million compared to February 2019. Short-term external loans rose by $784 million and long-term external loans increased by $331 million, according to data. The Central Bank also said that short-term assets of non-financial companies amounted to $100 billion. ‘Short-term liabilities recorded $91.4 billion. Accordingly, short-term foreign exchange surplus was $8.7 billion indicating an increase of $4.97 […] to the lira gaining value against foreign currencies while a decline in the index indicates it has lost real value. Weaker currency generally helps countries boost their exports. Trade Minister Ruhsar Pekcan announced on June 3 that Turkey ’s exports hit its highest-ever monthly figure with $16.8 billion in May this year. The country’s exports in May jumped 11.46 percent a […]